It does still keep logs; they're in .xml format, I think.
I may be wrong about the location, but I think it's:
(castawaydirectory)/(servername)/(charactername)/logs
or
(castawaydirectory)/logs/(servername)/(charactername)
or something like that.
IIRC, they're actually daily logs, so you'll have to wade through a slew of them if you have been running the bot for very long.
I'd look at my bot and tell you for sure, but I'm posting from school, and the computers here are disallowed from VPNing.